There are, meanwhile, no serving officials at all who have ever cut a go-it-alone trade deal for the UK before. The moment doubt sets in, however, inventories pile up, building projects are postponed, and “credit” is rebranded as “debt”. The immediate anxiety is not so much about Brexit itself as the political paralysis that has set in since the vote. All of these blanks will somehow have to be filled, and at a time when traditional party discipline has collapsed. In the more tranquil pre-crisis years, the assumption might have been that the economic technocrats could steer us through choppy political waters.

Source: The Guardian July 05, 2016 18:58 UTC